PRESS DIGEST - British Business - July 5

July 5 Thu Jul 4, 2013 8:27pm EDT

July 5 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Telegraph

ROLLS-ROYCE 'HID ENGINE DEFECTS', CLAIMS U.S. LAWSUIT

Engine maker Rolls-Royce "cut corners on quality control requirements" and "lied to" customers, two former employees have alleged in a U.S. lawsuit. ()

BORIS JOHNSON: LONDON MUST HAVE FOUR-RUNWAY AIRPORT BUT NOT AT HEATHROW

Only a four-runway airport in London will provide enough vital trade connections to fast-growing emerging markets, according to research published by Boris Johnson. ()

RUPERT MURDOCH'S MEDIA EMPIRE 'SHOULD FACE U.S. CHARGES'

Rupert Murdoch's media empire should face charges in the U.S. after the billionaire admitted that payments to police were part of "the culture of Fleet Street", a Labour MP has urged. ()

The Guardian

CITY SHIRTMAKER TM LEWIN UP FOR SALE

TM Lewin, the shirtmaker chain, has been put up for sale by Coller Capital, a distressed investment specialist, just over a year after it underwent a painful refinancing. ()

HOUSE PRICE INFLATION UP TO HIGHEST LEVEL IN THREE YEARS

The annual rate of house price inflation rose to its highest level in almost three years in June, as government schemes to stimulate the market and increased buyer confidence drove up demand for homes, according to the UK's largest mortgage lender. ()

TONY BUCKINGHAM: I WOULDN'T BEND EVIDENCE TO HELP A MATE

Tony Buckingham, the buccaneering multi-millionaire oilman, told a tribunal he would not bend his evidence to protect his "great mate" Ian Hannam, the City of London dealmaker who is fighting a 450,000 pound market abuse fine. ()

The Times

STRAIGHT-TALKING CARNEY AND DRAGHI SEND SHARES SOARING

Europe's top two central bankers sent shares surging by giving explicit guidance yesterday on the outlook for interest rates in a straight-talking debut for Mark Carney, the Bank of England's new Governor. ()

BA SAYS COST OF A THIRD RUNWAY SHOULD NOT FALL ON PASSENGERS

British Airways would resist higher passenger charges at Heathrow airport to fund construction of a third runway, the airline's chief executive indicated yesterday. ()

The Independent

GLAXOSMITHKLINE 'STILL UNCLEAR' WHY IT IS BEING INVESTIGATED IN CHINA

GlaxoSmithKline, Britain's biggest pharmaceuticals firm, says it doesn't know why police in China have been investigating it for six days. ()

KERVIEL'S APPEAL AGAINST HIS CONVICTION IS THROWN OUT

Jerome Kerviel, the rogue trader who ran up losses of more than 4 billion pounds at Societe General lost an appeal against his conviction. ()

MURRAY THE ADVENTURER TAKES THE CHAIR AT GULF KEYSTONE

The former French legionnaire and 73-year-old adventurer Simon Murray is the new chairman of oil company Gulf Keystone . ()

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